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To: Dennis Roth who wrote (169914)	7/6/2012 2:44:39 PM
From: Dennis Roth	1 Recommendation Respond to of 206181

Poland sees at least 41 more shale gas wells in 2012 By Maciej Onoszko in.reuters.com WARSAW, July 6 \| Fri Jul 6, 2012 4:37pm IST WARSAW, July 6 (Reuters) - Poland, Europe's shale gas pioneer, expects companies to drill at least 41 more wells this year to shed more light on the country's gas potential. The environment ministry, which has granted 111 rights to drill for shale gas to companies including Chevron and Exxon Mobil, also said on Friday there were "a few tens" of new requests for exploration licences awaiting approval. "The more wells we make in a short period of time, the faster we will get a confirmation of our forecasts regarding shale gas resources," it said. Analysts have said that to get a clear picture of the size and quality of shale gas reserves in Poland at least 100 wells must be drilled... ...So far, 23 shale gas wells have been drilled in Poland with a further six are in the works. Licence holders are obliged to drill at least 122 wells by 2021, a number that could grow by a further 186 wells, the ministry said... ...On Wednesday, a consortium of five state-controlled Polish companies agreed to spend 1.7 billion zlotys ($500 million) on joint shale gas exploration and extraction, partly as a result of government pressure to intensify shale gas efforts. The partners agreed to search for gas in three locations on PGNiG licences near Wejherowo, a town in the north of Poland, by running one vertical and around 12 horizontal wells on each. PGNiG wants to start production as soon as 2016... ==== Why drill so many wells there? ExxonMobil only needed to drill two wells to determine, like Gazprom, that there's no usable shale gas in Poland and pulled out,

To: Dennis Roth who wrote (169914)	7/9/2012 9:06:02 AM
From: Dennis Roth	1 Recommendation Respond to of 206181

Remember Hungary? Déjà vu All Over Again... naturalgaseurope.com Gabor Bada, Exploration Manager of TMX Oil and Gas Exploration Kft., a wholly owned subsidiary of Falcon Oil and Gas, shares his thoughts on Exxon's departure from Poland and Hungary.

To: Dennis Roth who wrote (169914)	7/25/2012 12:29:01 PM
From: Dennis Roth	1 Recommendation Respond to of 206181

Lotos interested in Exxon concession: report 25th July 2012 wbj.pl American oil and gas corporation ExxonMobil is hoping to sell to the highest bidder the six licenses it holds for the exploration of shale gas in Poland, Dziennik Gazeta Prawna reported, without citing sources. The US firm recently announced that it was ending its search for shale gas in Poland. Although Exxon itself claims its concessions had failed to demonstrate “sustained commercial hydrocarbon flow rates,” interest in purchasing the licenses is reportedly high. Polish state-owned oil refiner Grupa Lotos is the favorite to purchase the licenses, DGP wrote, although companies including Total and Hutton Energy are also looking into the offer. The price for the six licenses is not yet known, although DGP suggests buyers could pay between $47 million and $73 million per license.